The Scottish Affairs Committee will be in Perth today Monday ( January 25) as part of their inquiry into Scotland’s Fiscal Framework.
Watch the live stream here:
In the first session, the Committee will be asking economic experts what they think will make a workable framework.
In the second session, the Committee will question John Swinney MSP, Deputy First Minister and Cabinet Secretary for Finance, Constitution and Economy on the progress that has been made so far.
Committee chair Pete Wishart said: “As talks on the fiscal framework continue, it will be interesting to hear from Mr Swinney about the Scottish Government’s perspective on this important matter. We will be seeking to get an update on the progress made so far and the likelihood that we will get a settlement in the near future.”
Known as the ‘fiscal framework’, this mechanism is arguably the most important, and complex, part of the latest round of devolution.
The fiscal framework will determine how much the block grant, Scotland’s primary source of funding, will be affected by the revenue and spending powers that are being devolved under Scotland Bill.
It will set out the borrowing limits for the Scottish Government and ensure that the actions of one Government will not cause financial detriment to the other.